Approximate or inexact computing has recently attracted considerable attention due to its potential advantages with respect to high performance and low power consumption. This paper presents the design of an approximate multiplier; this approximate multiplier consists of an approximate Booth encoder, an approximate 4-2 compressor and an approximate tree structure. The approximate design is implemented and verified for 8×8, 16×16 and 32×32-bit signed multiplication schemes targeting applications in embedded systems. Simulation results at 45 nm technology are provided and discussed. Compared with an exact Wallace-Booth multiplier as well as other approximate multipliers found in the technical literature, the proposed approximate scheme achieves significant improvements in power consumption, delay and combined metrics. These results show the viability of the proposed design.